2020 Q4 Form 10-K Financial Statement

#000102207921000029 Filed on February 22, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2020 Q2
Revenue $3.002B $0.00 $1.000M
YoY Change 55.87% -100.0% 0.0%
Cost Of Revenue $1.822B $1.580B $1.221B
YoY Change 44.83% 25.0% -3.48%
Gross Profit $1.269B $1.206B $606.0M
YoY Change 91.69% 74.28% -11.92%
Gross Profit Margin 42.27% 60600.0%
Selling, General & Admin $436.0M $396.0M $360.0M
YoY Change 30.15% 9.39% -0.55%
% of Gross Profit 34.36% 32.84% 59.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $98.00M $89.00M $89.00M
YoY Change 19.51% 8.54% 9.88%
% of Gross Profit 7.72% 7.38% 14.69%
Operating Expenses $462.0M $396.0M $360.0M
YoY Change 69.85% 9.39% -0.55%
Operating Profit $807.0M $718.0M $283.0M
YoY Change 106.92% 129.39% -7.82%
Interest Expense -$39.00M $42.00M $42.00M
YoY Change -7.14% -6.67% -8.7%
% of Operating Profit -4.83% 5.85% 14.84%
Other Income/Expense, Net $2.000M $35.00M -$28.00M
YoY Change -71.43% -181.4% -33.33%
Pretax Income $758.0M $753.0M $255.0M
YoY Change 131.1% 178.89% -3.77%
Income Tax $191.0M $177.0M $66.00M
% Of Pretax Income 25.2% 23.51% 25.88%
Net Earnings $579.0M $568.0M $185.0M
YoY Change 128.85% 164.19% -18.14%
Net Earnings / Revenue 19.29% 18500.0%
Basic Earnings Per Share $4.28 $4.20 $1.38
Diluted Earnings Per Share $4.21 $4.14 $1.36
COMMON SHARES
Basic Shares Outstanding 134.8M shares 135.0M shares 134.0M shares
Diluted Shares Outstanding 137.0M shares 136.0M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.158B $1.605B $988.0M
YoY Change -2.85% 269.82% 261.9%
Cash & Equivalents $1.158B $1.605B $988.0M
Short-Term Investments
Other Short-Term Assets $154.0M $115.0M $110.0M
YoY Change 37.5% 0.0% 13.4%
Inventory $223.0M $205.0M $154.0M
Prepaid Expenses
Receivables $1.520B $1.421B $1.126B
Other Receivables $3.000M $2.000M $2.000M
Total Short-Term Assets $3.058B $3.348B $2.380B
YoY Change 22.81% 88.2% 51.98%
LONG-TERM ASSETS
Property, Plant & Equipment $1.627B $1.544B $1.505B
YoY Change 11.98% 14.29% 15.15%
Goodwill $6.873B $6.880B $6.789B
YoY Change 3.84% 3.97% 2.79%
Intangibles $1.167B $1.192B $1.141B
YoY Change 4.1% 4.75% -2.65%
Long-Term Investments $521.0M $480.0M $495.0M
YoY Change 8.09% 1.27% 8.08%
Other Assets $176.0M $164.0M $158.0M
YoY Change 10.0% 7.89% 12.06%
Total Long-Term Assets $10.97B $10.80B $10.61B
YoY Change 5.94% 5.42% 4.08%
TOTAL ASSETS
Total Short-Term Assets $3.058B $3.348B $2.380B
Total Long-Term Assets $10.97B $10.80B $10.61B
Total Assets $14.03B $14.14B $12.99B
YoY Change 9.21% 17.67% 10.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.633B $1.686B $1.142B
YoY Change 56.87% 59.21% 20.08%
Accrued Expenses $356.0M $148.0M $146.0M
YoY Change 59.64% 0.68% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.000M $555.0M $555.0M
YoY Change -99.75% -31.06% -31.23%
Total Short-Term Liabilities $1.776B $2.389B $1.843B
YoY Change -10.75% 18.8% -3.2%
LONG-TERM LIABILITIES
Long-Term Debt $4.013B $4.018B $4.020B
YoY Change 1.19% 26.04% 26.85%
Other Long-Term Liabilities $847.0M $782.0M $753.0M
YoY Change 19.13% 14.16% 9.29%
Total Long-Term Liabilities $4.860B $4.800B $4.773B
YoY Change 3.91% 23.93% 23.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.776B $2.389B $1.843B
Total Long-Term Liabilities $4.860B $4.800B $4.773B
Total Liabilities $6.636B $7.189B $6.616B
YoY Change -0.46% 22.18% 14.82%
SHAREHOLDERS EQUITY
Retained Earnings $9.303B $8.800B $8.307B
YoY Change 13.81% 10.11% 5.84%
Common Stock $2.843B $2.803B $2.766B
YoY Change 4.37% 3.55% 2.9%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.366B $5.161B $5.187B
YoY Change 2.84% 2.42% 3.33%
Treasury Stock Shares 84.00M shares 82.00M shares 83.00M shares
Shareholders Equity $6.759B $6.400B $5.831B
YoY Change
Total Liabilities & Shareholders Equity $14.03B $14.14B $12.99B
YoY Change 9.21% 17.67% 10.46%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income $579.0M $568.0M $185.0M
YoY Change 128.85% 164.19% -18.14%
Depreciation, Depletion And Amortization $98.00M $89.00M $89.00M
YoY Change 19.51% 8.54% 9.88%
Cash From Operating Activities $541.0M $862.0M $355.0M
YoY Change 55.46% 188.29% 10.59%
INVESTING ACTIVITIES
Capital Expenditures -$162.0M -$91.00M -$82.00M
YoY Change -5.81% -5.21% -3.53%
Acquisitions $101.0M $120.0M
YoY Change
Other Investing Activities -$6.000M -$102.0M -$123.0M
YoY Change -108.33% 684.62% 1657.14%
Cash From Investing Activities -$168.0M -$193.0M -$205.0M
YoY Change 68.0% 77.06% 122.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -820.0M -52.00M 496.0M
YoY Change -260.78% 79.31% -218.1%
NET CHANGE
Cash From Operating Activities 541.0M 862.0M 355.0M
Cash From Investing Activities -168.0M -193.0M -205.0M
Cash From Financing Activities -820.0M -52.00M 496.0M
Net Change In Cash -447.0M 617.0M 646.0M
YoY Change -158.97% 283.23% -438.22%
FREE CASH FLOW
Cash From Operating Activities $541.0M $862.0M $355.0M
Capital Expenditures -$162.0M -$91.00M -$82.00M
Free Cash Flow $703.0M $953.0M $437.0M
YoY Change 35.19% 141.27% 7.64%

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DESCRIPTION OF BUSINESS<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">    </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">    </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Background</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    Quest Diagnostics Incorporated and its subsidiaries ("Quest Diagnostics" or the "Company") empower people to take action to improve health outcomes.  The Company uses its extensive database of clinical lab results to derive diagnostic insights that reveal new avenues to identify and treat disease, inspire healthy behaviors and improve healthcare management.  The Company's diagnostic information services business ("DIS") provides information and insights based on the industry-leading menu of routine, non-routine and advanced clinical testing and anatomic pathology testing, and other diagnostic information services. The Company provides services to a broad range of customers, including patients, clinicians, hospitals, independent delivery networks ("IDNs"), health plans, employers, accountable care organizations ("ACOs"), and direct contract entities ("DCEs"). The Company offers the broadest access in the United States to diagnostic information services through its nationwide network of laboratories, patient service centers and phlebotomists in physician offices and the Company's connectivity resources, including call centers and mobile paramedics, nurses and other health and wellness professionals. The Company is the world's leading provider of diagnostic information services. The Company provides interpretive consultation with one of the largest medical and scientific staffs in the industry. The Company's Diagnostic Solutions businesses ("DS") are the leading provider of risk assessment services for the life insurance industry and offer healthcare organizations and clinicians robust information technology solutions.</span></div>
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Certain amounts in the prior period financial statements have been reclassified to conform to the presentation of the current period financial statements.
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CY2018 us-gaap Liabilities Assumed1
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CY2020 dgx Fair Value Of Net Assets Acquired
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351000000 USD
CY2019 dgx Fair Value Of Net Assets Acquired
FairValueOfNetAssetsAcquired
63000000 USD
CY2018 dgx Fair Value Of Net Assets Acquired
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446000000 USD
CY2020 dgx Mergerconsiderationpaidpayablenet
Mergerconsiderationpaidpayablenet
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CY2019 dgx Mergerconsiderationpaidpayablenet
Mergerconsiderationpaidpayablenet
-5000000 USD
CY2018 dgx Mergerconsiderationpaidpayablenet
Mergerconsiderationpaidpayablenet
-19000000 USD
CY2020 us-gaap Payments To Acquire Businesses Gross
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351000000 USD
CY2019 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
58000000 USD
CY2018 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
427000000 USD
CY2020 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
21000000 USD
CY2019 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
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CY2018 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
6000000 USD
CY2020 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
330000000 USD
CY2019 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
58000000 USD
CY2018 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
421000000 USD
CY2020 us-gaap Operating Lease Payments
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185000000 USD
CY2019 us-gaap Operating Lease Payments
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180000000 USD
CY2020 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
3000000 USD
CY2019 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
3000000 USD
CY2020 us-gaap Finance Lease Principal Payments
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3000000 USD
CY2019 us-gaap Finance Lease Principal Payments
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4000000 USD
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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164000000 USD
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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0 USD
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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1000000 USD
CY2018 us-gaap Capital Lease Obligations Incurred
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1000000 USD
CY2019Q4 us-gaap Goodwill
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6619000000 USD
CY2018Q4 us-gaap Goodwill
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6563000000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
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4619000000 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4229000000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2992000000 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2776000000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
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1627000000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1453000000 USD
CY2020 us-gaap Goodwill Acquired During Period
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247000000 USD
CY2019 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
43000000 USD
CY2020 us-gaap Goodwill Period Increase Decrease
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7000000 USD
CY2019 us-gaap Goodwill Period Increase Decrease
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13000000 USD
CY2020Q4 us-gaap Goodwill
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6873000000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
6619000000 USD
CY2020Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
1967000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
800000000 USD
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1167000000 USD
CY2019Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
1820000000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
699000000 USD
CY2019Q4 us-gaap Intangible Assets Net Excluding Goodwill
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1121000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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101000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
98000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
96000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
93000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
92000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
451000000 USD
CY2020Q4 dgx Finite Lived Intangible Assets Estimated Amortization Expense Total
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931000000 USD
CY2020Q4 us-gaap Accrued Insurance Current
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31000000 USD
CY2019Q4 us-gaap Accrued Insurance Current
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30000000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current
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502000000 USD
CY2019Q4 us-gaap Employee Related Liabilities Current
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CY2020Q4 us-gaap Accounts Payable Trade Current
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446000000 USD
CY2019Q4 us-gaap Accounts Payable Trade Current
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263000000 USD
CY2020Q4 us-gaap Interest Payable Current
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CY2020Q4 us-gaap Accrued Liabilities Current
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356000000 USD
CY2019Q4 us-gaap Accrued Liabilities Current
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223000000 USD
CY2020Q4 us-gaap Bank Overdrafts
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153000000 USD
CY2019Q4 us-gaap Bank Overdrafts
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88000000 USD
CY2020Q4 us-gaap Dividends Payable Current
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76000000 USD
CY2019Q4 us-gaap Dividends Payable Current
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71000000 USD
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CY2019Q4 us-gaap Accrued Income Taxes Current
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27000000 USD
CY2019Q4 us-gaap Interest Payable Current
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45000000 USD
CY2020Q4 dgx Merger Consideration Payable Current
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CY2019Q4 dgx Merger Consideration Payable Current
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CY2020Q4 us-gaap Accounts Payable And Accrued Liabilities Current
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1633000000 USD
CY2019Q4 us-gaap Accounts Payable And Accrued Liabilities Current
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1041000000 USD
CY2020Q4 us-gaap Unamortized Debt Issuance Expense
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28000000 USD
CY2019Q4 us-gaap Unamortized Debt Issuance Expense
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26000000 USD
CY2020Q4 us-gaap Long Term Debt
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CY2019Q4 us-gaap Long Term Debt
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4770000000 USD
CY2020Q4 us-gaap Long Term Debt Current
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CY2019Q4 us-gaap Long Term Debt Current
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CY2020Q4 us-gaap Long Term Debt Noncurrent
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CY2019Q4 us-gaap Long Term Debt Noncurrent
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CY2020Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
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1300000000 USD
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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2000000 USD
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1000000 USD
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1000000 USD
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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302000000 USD
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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602000000 USD
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CY2020Q4 us-gaap Long Term Debt
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CY2020Q4 us-gaap Operating Lease Right Of Use Asset
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CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2020Q4 us-gaap Finance Lease Right Of Use Asset
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CY2019Q4 us-gaap Finance Lease Right Of Use Asset
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CY2019Q4 dgx Lease Rightof Use Asset
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CY2020Q4 us-gaap Operating Lease Liability Current
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CY2019Q4 us-gaap Operating Lease Liability Current
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CY2019Q4 us-gaap Finance Lease Liability Current
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CY2020Q4 us-gaap Operating Lease Liability Noncurrent
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CY2019Q4 us-gaap Operating Lease Liability Noncurrent
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CY2020Q4 us-gaap Finance Lease Liability Noncurrent
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25000000 USD
CY2019Q4 us-gaap Finance Lease Liability Noncurrent
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30000000 USD
CY2020Q4 dgx Lease Liability
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667000000 USD
CY2019Q4 dgx Lease Liability
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CY2020Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
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14000000 USD
CY2019Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
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24000000 USD
CY2020 dgx Operating Lease Fixed And Variable Cost
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300000000 USD
CY2019 dgx Operating Lease Fixed And Variable Cost
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294000000 USD
CY2020 us-gaap Finance Lease Right Of Use Asset Amortization
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CY2020 us-gaap Finance Lease Interest Expense
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CY2019 us-gaap Finance Lease Interest Expense
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CY2020 us-gaap Lease Cost
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CY2019 us-gaap Lease Cost
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304000000 USD
CY2019 dgx Shortterm Leaseand Variable Lease Cost
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120000000 USD
CY2020 dgx Shortterm Leaseand Variable Lease Cost
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120000000 USD
CY2018 us-gaap Lease And Rental Expense
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220000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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160000000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
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4000000 USD
CY2020Q4 dgx Lessee Operatingand Finance Lease Liability Payments Due Next Twelve Months
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164000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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140000000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Two
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3000000 USD
CY2020Q4 dgx Lessee Operatingand Finance Lease Liability Payments Due Year Two
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143000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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122000000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
3000000 USD
CY2020Q4 dgx Lessee Operatingand Finance Lease Liability Payments Due Year Three
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125000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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87000000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Four
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3000000 USD
CY2020Q4 dgx Lessee Operatingand Finance Lease Liability Payments Due Year Four
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90000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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57000000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
3000000 USD
CY2020Q4 dgx Lessee Operatingand Finance Lease Liability Payments Due Year Five
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60000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
153000000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due After Year Five
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28000000 USD
CY2020Q4 dgx Lessee Operatingand Finance Lease Liability Payments Dueafter Year Five
LesseeOperatingandFinanceLeaseLiabilityPaymentsDueafterYearFive
181000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
719000000 USD
CY2019Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P12Y
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.032
CY2020Q4 us-gaap Finance Lease Liability Payments Due
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44000000 USD
CY2020Q4 dgx Lessee Operatingand Finance Lease Liability Payments Due
LesseeOperatingandFinanceLeaseLiabilityPaymentsDue
763000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
79000000 USD
CY2020Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
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17000000 USD
CY2020Q4 dgx Lessee Operatingand Finance Lease Liability Undiscounted Excess Amount
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96000000 USD
CY2020Q4 us-gaap Operating Lease Liability
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640000000 USD
CY2020Q4 us-gaap Finance Lease Liability
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27000000 USD
CY2020Q4 dgx Operatingand Finance Lease Liability
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667000000 USD
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P13Y
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.034
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.081
CY2019Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.087
CY2020Q2 us-gaap Unrealized Gain Loss On Interest Rate Cash Flow Hedges Pretax Accumulated Other Comprehensive Income Loss
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1000000 USD
CY2020 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
1000000 USD
CY2020 us-gaap Other Nonoperating Income Expense
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76000000 USD
CY2019 us-gaap Other Nonoperating Income Expense
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20000000 USD
CY2018 us-gaap Other Nonoperating Income Expense
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CY2018Q1 us-gaap Common Stock Dividends Per Share Declared
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0.50
CY2018Q3 us-gaap Common Stock Dividends Per Share Declared
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0.50
CY2018Q2 us-gaap Common Stock Dividends Per Share Declared
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0.50
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.015
CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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1.00
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
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0.01
CY2020Q4 us-gaap Common Stock Shares Authorized
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600000000 shares
CY2020Q2 us-gaap Common Stock Dividends Per Share Declared
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0.56
CY2020Q3 us-gaap Common Stock Dividends Per Share Declared
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0.56
CY2020Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.56
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.56
CY2019Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.53
CY2019Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.53
CY2019Q1 us-gaap Common Stock Dividends Per Share Declared
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0.53
CY2019Q4 us-gaap Common Stock Dividends Per Share Declared
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0.53
CY2018Q4 us-gaap Common Stock Dividends Per Share Declared
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0.53
CY2020Q4 us-gaap Common Stock Dividends Per Share Declared
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0.56
CY2020Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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900000000 USD
CY2020 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
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3000000 shares
CY2019 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
StockIssuedDuringPeriodSharesTreasuryStockReissued
2000000 shares
CY2018 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
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3000000 shares
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
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CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
17.25
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
14.30
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
18.14
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.203
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.204
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.191
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.020
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.024
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.019
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.025
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.028
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y2M12D
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y3M18D
CY2020 us-gaap Share Based Compensation
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97000000 USD
CY2019 us-gaap Share Based Compensation
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56000000 USD
CY2018 us-gaap Share Based Compensation
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61000000 USD
CY2020 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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39000000 USD
CY2019 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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27000000 USD
CY2018 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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33000000 USD
CY2020 dgx Sharebasedcompensationexcesstaxbenefitamount
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23000000 USD
CY2019 dgx Sharebasedcompensationexcesstaxbenefitamount
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13000000 USD
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18000000 USD
CY2020 us-gaap Defined Contribution Plan Cost Recognized
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64000000 USD
CY2019 us-gaap Defined Contribution Plan Cost Recognized
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84000000 USD
CY2018 us-gaap Defined Contribution Plan Cost Recognized
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78000000 USD
CY2020Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
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334000000 USD
CY2020Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On First Anniversary
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106000000 USD
CY2020Q4 dgx Unrecorded Unconditional Purchase Obligation Duewithin Twoand Three Years
UnrecordedUnconditionalPurchaseObligationDuewithinTwoandThreeYears
103000000 USD
CY2020 dgx Remaining Termsof Contingent Lease Obligations Maximum
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P27Y
CY2020 us-gaap Loss Contingency New Claims Filed Number
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2 claim
CY2020 us-gaap Loss Contingency New Claims Filed Number
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2 claim
CY2019Q4 us-gaap Litigation Reserve
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